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Im 21 for now i dont want to retire i always want to be doing something and when i do retitre i want to have an abundant amout of money thinking about starting to invest and learn how to buy and sell stocks. I want more than a 401k i want to have savings in different places.
Learn to spell, and find that shift key on your keyboard. You'll get more respect when you do.
It is never too early to start investing for retirement. The question asked by the OP can't be answered in a sentence or two.
The simplest answer I can give is take advantage of tax favored investment accounts such as 401Ks and Roth IRAs. Don't start by buying individual stocks. Buy index mutual funds or ETFs. Buy stocks when you have more experience and some comfort with the ups and downs of the market in general.
Im 21 for now i dont want to retire i always want to be doing something and when i do retitre i want to have an abundant amout of money thinking about starting to invest and learn how to buy and sell stocks. I want more than a 401k i want to have savings in different places.
do not buy/sell individual stocks. look at etf's/index funds. only play individual stocks with money you can afford to lose(as if anyone has money they can afford to lose)
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Originally Posted by hoffdano
Learn to spell, and find that shift key on your keyboard. You'll get more respect when you do.
lol u wot m8??
Quote:
Originally Posted by SportyandMisty
In some fundamental sense, there is no such thing as retirement: you just change what you do.
Im 21 for now i dont want to retire i always want to be doing something and when i do retitre i want to have an abundant amout of money thinking about starting to invest and learn how to buy and sell stocks. I want more than a 401k i want to have savings in different places.
Start as soon as you can. If you have a full time job, you should be investing something. You can start small.
There are tax credits for retirement investments. Start investing in your future with the first dollar you have as earned income, just treat it like any other tax.
No, it's easy to start. Open up a brokerage account, buy some stock. Make mistakes and learn from them.
Quote:
Originally Posted by StAcKhOuSe
do not buy/sell individual stocks. look at etf's/index funds. only play individual stocks with money you can afford to lose(as if anyone has money they can afford to lose)
Someone who knows nothing about investing who only buys mutual funds will never learn how the market works. later, if you want to do less work, there is nothing wrong with just buying funds.
People that keep waiting till they understand the difference between stocks and bonds before starting to invest, deserve to be poor.
You can always afford to lose some money in the process of learning.
Generally ASAP as the conventional wisdom is markets will rise year over year (on average) and the longer you're in, the more compounding you get.
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